Gwilliames and associates 905-619-2424, I have all rental properties insured with them. As well as my primary residence.
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The outcome:
I managed to increase the rent by $100 a month after the tenants themselves suggested they are comfortable with $100 a month increase.
This is also based on a fact that added an additional tenant who was not on the original lease.
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Thanks Thomas, so say for example I increase the rent by $100 instead of $20 a month I will be breaking the law? Even if tenant agrees to the $100 increase and sign the lease.
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I recently acquired a property where one of unit is rented for well below market rent and I had to assume the tenant. Tenant has been renting month to month since 2013 and previous landlord has not increased the rent since 2012.
Long story short can increase the rent beyond the allowable...
I have a property that was used as primary residence initially then converted to rental property. My questions is how the capital gains/loss is calculated? Is it calculated from the time the property was first purchased or from the time it was converted to rental? I know when you convert a...
My tenant moved out at end of the lease but left the house messy and did not remove most their belongings. As a landlord what are my options to recover the money I spent on cleaning and removing their junk? The property is in Ontario.
Thanks
Mark
Hello MyReinspace members,
Has anyone invested in Collingwood Ontario and can share their experience? I've heard vacancy rate is really low and great airbnb opportunities. Would like to find out other investors thoughts and experiences investing in Collingwood.
Hello MyReinspace members,
Has anyone invested in Collingwood Ontario and can share their experience? I've heard vacancy rate is really low and great airbnb opportunities. Would like to find out other investors thoughts and experiences investing in Collingwood.
Thanks
Property in Ontario, price in low $400K, fully renovated, 2drm main unit rents for $1650 +Util, 1bdrm rear apartment rents for $1100 +Util. In an area with very low vacancy rate of under 2%. Building age is 50yrs, semi-detach, pretty much turn key.
According to CRA:
Changing all your principal residence to a rental or business property
When you change your principal residence to a rental or business property, you can make an election not to be considered as having started to use your principal residence as a rental or business property...
I am selling my property that I purchased as primary residence initially but had been used as rental property for the past three years. I did not acquire another primary residence during those years. My question is around capital gains tax, will there be a capital gains tax as result of the sale...
Thanks SweetZone, this not my first house therefore I can't take advantage of first time home buyer plan. I am just exploring some options for my RRSP money which is just sitting in the bank account.
Would you mind sharing the link to that article from Calum Ross if you have it?
Thanks everyone, I think I have some more digging and reading to do on this topic. Certainly a good tool for real estate investors.
Just one more question, are the rules different from province to province?
Can I use my own RRSP as mortgage for personal real estate property? Instead of withdrawing cash from RRSP which triggers immediate tax withholding. If so how can one go about setting this up?
Thanks,
Mark
Ontario has a new recent ruling regarding New Build home where cannot flip the property right after closing?
If true can someone please elaborate on the amount of time the property needs be held before one can sell it?